"All human activities have three distinctive features: pattern, time and ratio - all of which observe the Fibonacci Summation Series" (R.N. Elliott - "Nature's Law - the Secret of the Universe" - 1946)

Monday, October 15, 2012

SPX - Uncertain situation

The situation is still extremely uncertain.
According to my preferred scenario, the correction is not over; even if the last bearish movement seems impulsive, it appears too short (in time) to be qualified as minuette degree.
However the last minor Elliott wave pattern could also be, like a first alternative, a completed flat a-b-c or an ongoing triangle a-b-c-d-e
The 1428-1425 is a ​​Fibonacci price cluster area and a reaction is possible.
I stay very cautious.
Have a great trading day...with care!

1 comment:

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